October Private Residential Spending Falls

Private residential construction spending declined 0.3% in October, as spending on single-family construction dropped 2.6%. Private residential construction spending fell for the fifth consecutive month, standing at an annual pace of $887.2 billion. This was about 8.6% higher compared to a year ago. The monthly decline is largely attributed to lower spending on single-family construction. Single-family construction spending dropped 2.6%… Read More ›